NT engineering construction has peaked, but set to remain at historic highs over a long period: ACIF
If an escape from winter’s chill isn’t enough reason to shift up north, recent industry reports on the demand for building and construction work in the Northern Territory should convince many businesses to upstakes and go.
While many regions will experience varying outlooks across residential, non-residential building and engineering construction work, the Australian Construction Industry Forum’s latest report for the territory shows positive growth for all sectors over the short-medium term.
The NT has enjoyed a sustained period of strong demand in engineering construction. While the peak has been crossed, the rate of work will remain at historically high levels over a long period. And this has a bump-on effect for other sectors, too.
“Construction staff and others working in mining, infrastructure and other engineering projects increase the demand for other building work. These businesses and their staff need housing, health services, entertainment and retail therapy, all of which benefit the region and the local building and construction industry,” says ACIF executive director Peter Barda.
“ACIF’s Construction Market Report shows that the Northern Territory will enjoy heightened demand across all sectors for much of the next decade, and when it does fall back it will be to levels that still offer good amounts of work for the industry.’’
